\documentclass[]{article}
\setlength{\pdfpagewidth}{8.5in} \setlength{\pdfpageheight}{11in}
\begin{document}
\begin{tabular}{lcccc} \hline
 & (1) & (2) & (3) & (4) \\
VARIABLES & Public sector corruption index & Political corruption index & Executive corruption index & Rigorous and impartial public administration \\ \hline
 &  &  &  &  \\
Panel\_A &  &  &  &  \\
 &  &  &  &  \\
Arms technology lag = L, & -0.56** & -0.55** & -0.73*** & 2.79*** \\
 & (0.26) & (0.24) & (0.27) & (0.99) \\
Lag GDP per capita (log) = L, & 0.08 & 0.09 & 0.12* & -0.99*** \\
 & (0.06) & (0.06) & (0.06) & (0.24) \\
 &  &  &  &  \\
Observations & 1,875 & 1,873 & 1,884 & 1,877 \\
Kleibergen-Paap F-statistic & 40.04 & 40.06 & 39.90 & 39.95 \\
 Countries & 127 & 127 & 127 & 127 \\ \hline
\multicolumn{5}{c}{ Robust standard errors in parentheses} \\
\multicolumn{5}{c}{ *** p$<$0.01, ** p$<$0.05, * p$<$0.1} \\
\end{tabular}
\end{document}
